Parabis Group gets £13m injection from private equity backer Duke Street
Duke Street Capital has injected a further £13m in Parabis Group, helping fund the firm's "ambitious" investment strateg
December 05, 2014 at 10:06 AM
2 minute read
Duke Street Capital has injected a further £13m into Parabis Group, helping fund the firm's "ambitious" investment strategy.
Duke Street became the first private equity investor to enter the legal services market when it announced its investment in Parabis in 2012.
The private equity group has made its latest investment in Parabis to fund infrastructure improvements including hiring, property and technology.
Duke Street partner Charlie Troup said of the £13m investment: "The changes to the legal services sector through liberalisation and increased competition have been more profound than anyone anticipated in 2010; we believe the strongest firms will not only embrace these changes but also lead them.
"Parabis has done this through its entry into Consumer Law and the evolution of its ABS models; together we are building a sustainably competitive business which will benefit customers and employees alike."
Parabis Group commercial director Tim Roberts (pictured) added: "This investment provides Parabis with the firepower to move confidently into the future as we use the best talent and technology to unlock extraordinary opportunities for our customers. Duke Street has underlined its long-term commitment to this strategy which is already transforming the way the market views legal services."
During the past year the firm has been restructuring and refocusing its business by rationalising its property holdings and grouping teams geographically according to client demand.
As part of the process the firm closed its Bristol and Colchester offices after a two-month consultation earlier this year. In the meantime it is looking to consolidate its three London bases into a single City office, and has set aside spend of £11m on IT and technology.
The firm is also planning to open an additional base in Cape Town or Johannesburg after selecting an outsourcing company as a preferred supplier.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllKirkland, Debevoise & Nishimura Advise On $8.2B Japanese Acquisition of Resolution Life
Covington Swipes Mishcon Insurance Disputes Head for New Practice Launch in London
3 minute readAsia Pacific Hires: Global Firms Kick Off Q4 with Flurry of Team Hires Across the Region
10 minute readTrending Stories
- 1Former McCarter & English Associate Fired Over 'Gangsta Rap' LinkedIn Post Sues Over Discrimination, Retaliation
- 2First-of-Its-Kind Parkinson’s Patch at Center of Fight Over FDA Approval of Generic Version
- 3The end of the 'Rust' criminal case against Alec Baldwin may unlock a civil lawsuit
- 4Solana Labs Co-Founder Allegedly Pocketed Ex-Wife’s ‘Millions of Dollars’ of Crypto Gains
- 5What We Heard From Litigation Leaders This Year
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250